How to buy Theta tokens (THETA) in Australia
THETA is the governance token for the Theta Network, a decentralised content distribution network (CDN) that promises to reduce our reliance on expensive intermediaries like.
THETA is the governance token for the Theta Network, a decentralised content distribution network (CDN) that promises to reduce our reliance on expensive intermediaries like private CDN servers.
Private CDN servers relay data streams from video platforms like YouTube and Netflix to users worldwide, however their centralisation and geographical limitations means that content distribution as we know it is not censor-resistant or unreachable to some people.
Given that the Theta token is a governance token, it has a limited supply of 1 billion tokens, it’s projected that the token will become increasingly valuable over time.
In this guide, we’ll show you how to buy Theta tokens (THETA) in Australia without converting the Aussie dollar into other fiat currencies.
Learn more: What is the Theta token (THETA)?
How to Buy THETA in Australia with Easy Crypto
At Easy Crypto, we simplify your buying and selling processes, not to mention making it as cost-effective as we possibly can. Follow the steps below to get started!
Step-by-step process for buying THETA with Easy Crypto:
- Sign-up or Log in
It takes 2 minutes to create a new account, and you can cut the time faster using your Google, Facebook, or Twitter account. The verification step is also quite user-friendly. Be sure to follow the instructions carefully to ensure a quick process.
If you already have an account with us, proceed to log in with your credentials.
- Place an order for THETA with AUD
Buy Theta tokens by entering the amount you’d like to buy in Aussie dollars. Provide us with your wallet address so we can send the THETA your way.
You can also view the current rates for THETA before purchasing. Most online price charts show THETA against the USD, and it can be rather annoying to convert that back to Aussie dollar, considering that the AUD/USD exchange rate fluctuates as well.
To avoid having to open three price charts on your already busy computer screen(s), why not head over to Easy Crypto’s THETA rates in AUD?
- Payment with Aussie dollars
In Australia, we offer two methods of payment, either direct wire transfers or through the POLi Payments system.
POLi is an instant payment service that collaborates with most Australian banks. If you’re interested to learn more about it and which banks support it, click on the link below.
Related: Learn more about POLi and how to use it.
- Wait for payment confirmation
Easy Crypto directly transfers your Theta tokens into your own wallet. This transaction happens in real-time on the blockchain, which can take several minutes.
You might know of other crypto exchanges that allow you to receive your crypto tokens instantly. This is possible because your tokens will be held in their own custodial wallet, but technically they own the private keys.
While some people find this convenient, others feel safer to hold the private keys themselves. With Easy Crypto, you can be sure that you are the true owner of your crypto assets.
Important. Do not mistype your address. Cryptocurrency transfers cannot be refunded. The best and easiest way to avoid this mistake is to simply copy-paste your address, instead of typing each symbol individually.
Need help with anything? Read our FAQ or contact our Help Desk.
Things to consider before buying Theta tokens (THETA)
With that said, below are some things to consider before buying Theta tokens (THETA) in Australia. The same applies to any crypto purchase in Australia.
Get a wallet that can store THETA
The Theta token is stored in crypto wallets that support it. Crypto wallets don’t actually “store” the tokens in ways that a USB drive stores a file, because Theta and other cryptocurrencies don’t have a physical or even digital form.
Rather, a globally distributed ledger of Theta owners will register your wallet and recognise that it will contain some amount of Theta tokens. This ledger is not owned by a single organisation, but by a network community of validators.
There are two types of Theta wallets available in Australia, a software wallet and a hardware wallet. The former has a similar feel to a mobile or Internet banking interface, and you can use it anywhere and on any device.
Hardware wallets, on the other hand, are very much like a USB drive that keeps your private key safe as you need the physical wallet present in order to access your Theta tokens.
For hardware wallets, the best ones are hands down the Ledger Nano and Trezor. Find out more about these wallets by clicking on the link below.
All about crypto wallets: Cryptocurrency Wallets – What are your options in 2022?
Buy from a cryptocurrency exchange in Australia
Theta can be bought from Australia, typically through crypto exchanges, although theoretically you can acquire them from just about anyone on the Internet, as crypto transactions are permissionless.
Yet it is highly recommended that you buy the Theta tokens from a trusted and regulated exchange, and more so if it is a local Australian one. Here is our reasoning behind it:
Why choose an Australian crypto exchange:
- You will receive a guaranteed consumer protection under the Australian Transaction Reports and Analysis Centre (AUSTRAC) regulation.
- You will receive a better THETA-AUD exchange rate since you do not need to convert AUD to USD beforehand, saving you purchasing power and time.
- Because you buy Theta with Aussie dollars, you can easily keep track of your investment in AUD terms, not USD.
- Having an address here in Australia means that the Aussie exchange is far more accountable when receiving complaints by Australian customers.
- You support local Australian businesses this way.
Buy and sell small amounts of Theta first
Once you’ve picked your crypto exchange, you may want to test it out. Buy and sell small amounts of Theta tokens and see how much Theta you can receive in your wallet, and how much you would get if you would sell it.
Risk no more than $20 worth of the cryptocurrencies, but by all means, use however much money that you are comfortable with.
DO NOT under any circumstances share your crypto wallet’s private key. An exchange that asks you for this is obviously a scam. A private key is different from your wallet address. It is essentially the password for gaining access to your Theta tokens.
Begin your research: Crypto Exchange Comparison in Australia (2021)
Manage and keep track of your THETA with our portfolio tracker
An important aspect of any investment endeavor is managing and tracking the growth of your assets. We make that easy for you with our portfolio tracker at Easy Crypto.
No need for tedious spreadsheets, or scrolling through price charts.
Set up your very own personalised portfolio tracker on Easy Crypto and know immediately how much your investments are currently worth.
Have an investment goal and strategy in mind
Having an investment goal in mind, along with a strategy to achieve is the way to go about any investment endeavor.
For those just starting out and looking for a solid place to begin, consider implementing the dollar-cost averaging strategy to spread your risk over a longer period of time.
This is made even easier with our auto-buy feature on Easy Crypto.
With our auto-buy feature, you automate the dollar-cost averaging strategy and manage your risk easily – the best of both worlds.
Get started: Click here to get started with our auto-buy feature.
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Disclaimer: Information is current as at the date of publication. This is general information only and is not intended to be advice. Crypto is volatile, carries risk and the value can go up and down. Past performance is not an indicator of future returns. Please do your own research.
Last updated October 7, 2022